MCHVF News and Press, Mgm China Holdings Ord From 07/09/22

The Macao SAR Government has ordered the closure of all commercial and industrial businesses for the next week with limited exceptions for essential services. The decision was made after 71 new COVID cases were reported locally to bring the total number of positive cases in the late...

Bank of America stayed constructive on the Macau sector after the region saw its worst monthly gross gaming revenue tally since September of 2020 when GGR fell 62.1% year-over-year to 6.54B patacas in June. The sharp drop was due to local COVID cases in Macau and travel restrictions thr...

Macau casino stocks fell in Hong Kong after the gambling region saw its first COVID-19 outbreak in eight months. The city reported 21 preliminary-positive cases in the local community as of Sunday evening. Schools and non-essential businesses were shut down until at least Tuesday to allow tim...

Bank of America said the final version of the gaming law passed by the Macau Legislative Assembly reflected the amendments that have been revealed in the past couple months and were in-line with expectations. The amendment bill allows for six new concessions, with a maximum term of 10 years a...

Gross gaming revenue in Macau fell 68% year-over-year during May to 3.34B patacas ($410M), according to the Gaming Inspection and Coordination Bureau. The monthly tally was 25% higher than the mark from April, but missed the consensus expectation for a drop of 64%. GGR is down 44% to $24.79B ...

Shareholders of Studio City International Holdings (NYSE:MSC +63.3%) were big winners on Tuesday. Shares of the Hong Kong-based casino operator surged over 90% at intraday highs as investors eyed the reopening of its flagship Cotai, Macau casino and resort. While gains moderated toward T...

Gross gaming revenue in Macau showed a slight improvement last week, but remained below EBITDA break-even levels, according to checks by Jefferies. Analyst David Katz said there is some incremental progress with visitation to the gambling mecca as Portuguese non-resident nationals will be all...

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening “in a few days” as case numbers fall. The nation’s most populous city is...

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pr...

Casino stocks have enjoyed a solid start to the week, with even China-linked stocks making a slight comeback in the short term. Chinese stocks are attracting increased attention as Shanghai’s strict lockdown appears to be loosening. On April 20, the epicenter of the latest outbreak all...